All you need to know about the markets & economy today

Even as governments across the world debate over how to reopen their markets in view of the spread of COVID-19, that has affected more than 3.6 million people across 215 nations and led to 254,000 deaths, the Indian market today has shown remarkable resilience in line with global markets.

The Sensex is close to the 32,000-mark, trading at over 450 points. Markets in Japan, Australia, and South Korea, too, have shown steady gains. Dow Jones and Nasdaq too showed encouraging gains after almost a quarter of market cap of major companies was wiped out in the last few trading sessions.

And amidst this gloom, India’s largest lender -- the State Bank of India -- has added to the common man’s woes as it increased home loan interest rates by 0.20% for new borrowers. Not that too many people are buying real estate. Yet, the news isn’t particularly heartening as other banks are likely to follow suit. SBI’s home loan becomes costlier

The impact of the lockdown on the economy and corporate earnings has led to much pain. There have been job losses, pay cuts and profits are plunging.

With the future looking uncertain for corporates, economies and individuals alike, it is time you took some smart decisions to keep your money safe. Rising unemployment, fewer jobs and signs of tougher times to come, you would be well advised to handle your money wisely. So here’s some advice: COVID-19: 6 ways to manage your money better

Another industry that has been crippled due to travel bans and lockdowns is aviation. Most of the airlines in India, even before the virus spread, were in the red and fighting to keep afloat. Now with social distancing norms being made stricter, there was a proposal that only the aisle and the window seats be occupied, leaving the middle seat vacant. The government however feels differently. Keeping middle seat vacant not an option for airlines as margins are too thin: Aviation Minister